1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nastasia [14]
3 years ago
12

Steinway produces concert grand pianos, often using the custom materials and designs desired by a specific customer. The average

price of these pianos runs about $50,000 depending on the exact piano. What type of pricing does Steinway most likely use for these pianos?
Business
1 answer:
vovangra [49]3 years ago
6 0

Answer:

Cost-Plus

Explanation:

Cost plus pricing is a system of determining the selling price of an item by adding a determined amount called mark-up to the total cost of producing the item.Its purpose is to ensure that cost are fully recovered and profit are also made.

In a less competitive environment like Steinway's own , where pianos are being produced to the specification of waiting customers , this  gives a good opportunity for cost plus marketing as threats from competitors are minimal or even nil.

You might be interested in
The following events result in a tax. Which is an example of a direct tax?
Komok [63]

Answer:

Javier owes money to the federal government based on his earnings.

Explanation:

Direct taxes are levied directly on the income of an individual or a business. Javier pays income tax on his earnings which is classified as a direct tax. Other examples of direct taxes include corporate tax and property tax.

All other options are examples of indirect tax as they are being levied on goods and services. Such taxes are usually included in the price. For e.g. General sales tax and value added tax.

5 0
3 years ago
________ refers to setting price based on buyers' perception of value rather than on the seller's cost.
melomori [17]

Answer:

Value based pricing

Explanation:

Value based pricing  is a pricing strategy that includes setting a price based on how much the customer believes the product  you’re selling is worth.

4 0
3 years ago
If you waited until late in life to start saving, what two things should you try to do?
klemol [59]
Get a job and save money now
5 0
3 years ago
Read 2 more answers
Find the present value of $19,000 in 11 months at 5.1% interest
dem82 [27]

Answer:

$19,886.396

Explanation:

Given :

Interest rate = 5.1% = 5.1

Principal = $19000

Period = 11 months = (11/12)year

The present value of 19000 in 11 months at 5.1% interest Can be obtained using the relation:

PV = P(1 + r)^n

PV = 19000(1 + 0.051)^(11/12)

PV = 19000(1.051)^(11/12)

PV = 19000 * 1.0466524

PV = 19886.396

Hence, the present value is $19,886.396

5 0
3 years ago
Differentiate between accounting and bookkeeping
UkoKoshka [18]
Accounting adds and subtracts numbers billing etc.
Bookkeeping just organizes and stores imformation.
5 0
3 years ago
Other questions:
  • In the relationship depicted by the curve Productivity1, which of the following statements are true regarding the relationship b
    6·1 answer
  • The demand for all carbonated beverages is likely to be ________ the demand for dr. pepper. more elastic than perfectly elastic
    14·1 answer
  • The market for diamond rings, meaning all types and brands of diamond rings, has a demand that is elastic with respect to price
    7·1 answer
  • Bailey, a single taxpayer, obtains permission to change from a calendar year to a fiscal year ending June 30, 2019. During the s
    10·1 answer
  • Asonia Co. will pay a dividend of $5.20, $9.30, $12.15, and $13.90 per share for each of the next four years, respectively. The
    6·1 answer
  • Jefferson Cleaning signed an agreement with Willis Company on December 15 to provide cleaning services every Friday. The service
    9·1 answer
  • You just borrowed money for four years to buy a car. The payments are $218 a month and the APR is 7 percent. How is the EAR comp
    14·1 answer
  • R. L. Ybarra employs John Ince at a salary of $53,000 a year. Ybarra is subject to employer Social Security taxes at a rate of 6
    12·1 answer
  • Sheridan Company borrowed $3200000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during t
    11·1 answer
  • To calculate direct materials on the schedule of cost of goods manufactured, add purchases to beginning raw materials inventory
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!